09:00 AM EDT, 08/08/2025 (MT Newswires) -- Binance is collaborating with Spanish bank BBVA (BBVA) to allow customers to hold assets off the crypto exchange, the Financial Times reported Friday, citing people familiar with the matter.

Spain's third-largest bank is acting as one of a small number of independent custodians for the world's largest crypto exchange, the report said.

Under the arrangement, client funds are held with the Spanish bank in US Treasuries and accepted by Binance as margin for trades, the FT reported.

BBVA and Binance did not immediately respond to MT Newswires' request for comment.

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